Defence stock engaged in the business of manufacturing and supplying missiles and allied defense equipment jumped upto 3 percent in the day’s trade upon announcing a stock split of 1:2 and an interim dividend of Rs. 8.85.
With a market capitalization of Rs. 31,068 Crores, the shares of Bharat Dynamics Limited were trading at Rs. 1,695.10, up 2 percent from its previous day’s close price of Rs. 1661.55
The board of directors of Bharat Dynamics Limited has approved and announced the stock split of equity shares of the company in the ratio of 1:2 where one equity share of the company will be split into two equity shares.
In addition, it has declared an interim dividend of Rs. 8.85 per equity share and fixed April 2, 2024, as the record date to determine the eligible shareholders of the company to receive the dividend.
Bharat Dynamics Limited is engaged in the business of manufacturing and supplying missiles and allied defense equipment like torpedo advanced lightweight, medium-range surface-to-air missiles, quick-reaction surface-to-air missiles, and many more.
As of January 2024, Bharat Dynamics Limited has a strong order book of Rs. 20,070 Crores consisting of potential products like Lightweight torpedos, Akash SAM, Astra missiles, and many more.
Its revenue from operations grew by 30.30 percent from Rs. 462 Crores in Q3FY23 to Rs. 602 Crores in Q3FY24, accompanied by increasing profits of Rs. 84 Crores to Rs. 135 Crores.
It has reported a return on equity (ROE) of 11.3 percent and a return on capital employed (ROCE) of 15.6 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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